Fifth Third Bancorp (NASDAQ:FITB) Expected to Announce Earnings of $0.90 Per Share

Equities analysts predict that Fifth Third Bancorp (NASDAQ:FITB) will announce earnings of $0.90 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Fifth Third Bancorp’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $0.94. Fifth Third Bancorp posted earnings of $0.85 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The firm is expected to issue its next quarterly earnings report on Thursday, October 28th.

According to Zacks, analysts expect that Fifth Third Bancorp will report full year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.74. For the next year, analysts anticipate that the business will post earnings of $3.32 per share, with EPS estimates ranging from $3.18 to $3.53. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Wednesday, July 21st. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.13. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Fifth Third Bancorp had a return on equity of 13.03% and a net margin of 31.30%. During the same quarter in the prior year, the business posted $0.23 EPS.

FITB has been the topic of several analyst reports. Keefe, Bruyette & Woods cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 7th. Citigroup initiated coverage on Fifth Third Bancorp in a research report on Friday, July 16th. They issued a “hold” rating and a $36.73 price objective on the stock. Morgan Stanley upped their price objective on Fifth Third Bancorp from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, August 2nd. Odeon Capital Group cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 19th. Finally, Stephens reissued an “overweight” rating and set a $35.84 price target (down from $46.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 27th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Buy” and a consensus target price of $38.96.

In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 6,372 shares of Fifth Third Bancorp stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $38.41, for a total value of $244,748.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP acquired a new position in shares of Fifth Third Bancorp in the second quarter worth about $27,000. Certified Advisory Corp purchased a new stake in Fifth Third Bancorp during the 1st quarter valued at about $29,000. MUFG Americas Holdings Corp purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $29,000. WASHINGTON TRUST Co purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $33,000. Finally, Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $39,000. Institutional investors own 80.25% of the company’s stock.

Shares of Fifth Third Bancorp stock traded up $0.68 during midday trading on Friday, hitting $38.91. The company had a trading volume of 80,207 shares, compared to its average volume of 5,434,607. The stock has a market capitalization of $26.88 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.28 and a beta of 1.55. Fifth Third Bancorp has a 52-week low of $19.32 and a 52-week high of $43.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.89. The company has a 50 day moving average of $37.87 and a 200 day moving average of $38.83.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a $0.30 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, September 29th. Fifth Third Bancorp’s payout ratio is currently 50.00%.

About Fifth Third Bancorp

Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.

Read More: What does it mean to hold a stock in street name?

Get a free copy of the Zacks research report on Fifth Third Bancorp (FITB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.